SMALL LOANS

Protect your savings with a small personal loan

What's the money for?
Credit card refinancing
Debt consolidation
Home improvement
Major purchase
Car financing
Green loan
Business
Vacation
Moving and relocation
Other

What is a small loan?

A small loan from Happen Bank is a fixed-rate personal loan that can help you get exactly what you need to pay down high-interest debt or cover your expenses now while keeping your monthly payment the same for the duration of your repayment plan. A small personal loan can start as low as $1,000 and offers competitive rates.

When you need to borrow a small amount of money to cover unexpected expenses and don’t want to dip into savings, a personal loan is a smart alternative to high-interest credit cards or other expensive options like payday or auto title loans.

Join over 5 million members

• Borrow a small amount, only what you need
• Quick and easy online application
• Eligibility based on credit history
• Funded in as little as 24 hours²
• No prepayment fees

Why get a small loan?

Funded in as little as 24 hours

Once your loan is approved for funding, we’ll pay your creditors directly or send the money in as little as 24 hours.

Protect Your Savings

Avoid dipping into savings or retirement funds and keep your finances on track.

Lock in a Fixed Rate

With a fixed rate, your monthly payment will never increase.

How small personal loans can be used

Small loans offer big flexibility, allowing you to cover nearly any expense with fixed monthly payments.

• Debt consolidation
• Car repairs
• Home repairs and upgrades
• Major appliance purchases
• Electronics purchases
• Veterinary bills
• Medical expenses
• Moving and relocation

How small loans work

With LendingClub, you can check your rate on a personal loan for small expenses or debt consolidation without obligation or impacting your credit score. Once you’ve found the best option, you’ll complete the application process, including a hard pull of your credit report, and a review of your debt-to-income ratio, overall debt, and income.

In many cases, you can complete the process entirely online. Once your loan is approved, money is deposited directly into your bank account typically within two days, so you can cover your expenses right away. You’ll then be able to make fixed monthly payments for the duration of your repayment term. If at some point you decide to pay off your loan early, no prepayment fees will be applied.

How to compare the best small loan lenders

When deciding which personal loan lender is right for you, you’ll want to compare:

• Loan amounts: Loan amounts vary by lender and eligibility criteria. Some lenders may set minimum loan amounts higher than you need.
• Repayment terms: A longer loan term can lower your monthly payment, but a shorter term will cost you less overall.
• Interest rate ranges: Interest rates and APRs vary by lender. The lower your APR, the less your loan will cost overall.
• Eligibility requirements: Loan approvals are typically based on your credit score, payment history, and income, among other factors.
• Fees: Application costs, origination fees, and prepayment penalties vary by lender and may impact your total cost. Compare APRs between different lenders to understand the true cost of each loan offer.
• Joint applications: If you think you might not qualify on your own based on your credit history, work with a lender that accepts co-borrowers and apply together for a joint personal loan.

Personal loans vs. Credit cards

Personal loans

1. Installment loans can help you pay down debt and take control of your budget
2. Single, fixed rate monthly payment is easy to manage
3. Fixed monthly payment and payoff date saves you money over time
4. Lower average APRs compared to credit cards²

Credit cards

1. Revolving credit accounts can lead to overspending
2. Managing multiple credit cards with variable due dates, limits, and terms is time consuming and stressful
3. Low minimum monthly payments and revolving compound interest can trap you in a cycle of debt
4. Higher average APRs are an expensive way to pay for large purchases

What our members are saying

"I applied for a small loan and was approved the next day. Within a day or two later, I had my loan. It could not have been easier. This is the second time I have used this bank and I am extremely satisfied."4
—Dagney, a member from Maryland

How Happen Bank personal loans work

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• Apply online in minutes

Get customized loan options based on what you tell us.

• Choose a loan offer

Select the rate, term, and payment options you like best.

• Get funded in as little as 24 hours

Once your loan is approved for funding, we’ll pay your creditors directly or send the money in as little as 24 hours.